AQR Capital Management LLC Boosts Stake in TXNM Energy, Inc. $TXNM

Key Points

• AQR Capital Management LLC raised its position in TXNM Energy, Inc. by 8.2%, now holding approximately 179,818 shares valued at $9.6 million.
• TXNM Energy recently declared a quarterly dividend of $0.4075 per share, resulting in an annualized yield of 2.9%, with a payout ratio of 84.02%.
• Recent earnings revealed TXNM Energy missed consensus EPS estimates with reported earnings of $0.25, while revenue rose by 2.9% year-over-year to $502.42 million.

AQR Capital Management LLC lifted its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,818 shares of the company's stock after purchasing an additional 13,682 shares during the period. AQR Capital Management LLC owned about 0.19% of TXNM Energy worth $9,597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TXNM. Hughes Financial Services LLC purchased a new position in TXNM Energy in the first quarter valued at $25,000. Versant Capital Management Inc purchased a new position in TXNM Energy in the first quarter valued at $35,000. LRI Investments LLC purchased a new position in TXNM Energy in the fourth quarter valued at $40,000. Fifth Third Bancorp purchased a new position in TXNM Energy in the first quarter valued at $40,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in TXNM Energy during the 1st quarter worth about $41,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Scotiabank lifted their price target on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Barclays reiterated an "overweight" rating and set a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $54.86.

TXNM Energy Stock Performance

NYSE TXNM traded down $0.12 on Friday, hitting $56.85. 633,951 shares of the company's stock were exchanged, compared to its average volume of 857,238. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. The firm's 50-day moving average price is $56.77 and its two-hundred day moving average price is $54.91. TXNM Energy, Inc. has a fifty-two week low of $41.65 and a fifty-two week high of $57.42. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.69 and a beta of 0.09.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.21). The business had revenue of $502.42 million for the quarter, compared to analyst estimates of $493.90 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a dividend of $0.4075 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.63 annualized dividend and a dividend yield of 2.9%. TXNM Energy's payout ratio is 84.02%.

TXNM Energy Profile

TXNM Energy, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.